Quickbook - Bank Reconciliation - 4 places to look for errors

It is quite easy to spot where errors come from if you can't reconcile:

Look at these 4 numbers at the bottom left of the reconciliation window and compare to your bank statement to zero-in on where error(s) come from:
- beginning balance
- ending balance
- total deposits
- total withdrawals

If you found that error(s) is on total withdrawals side, you just need to focus on finding the error(s) there.

Quickbooks - workflow

Before you can reconcile to bank statement; you should do these first:

First, take care of A/R (accounts receivable).
In this order:
Enter invoice - process payment - move deposit into bank a/c.
(These deposits should agree with amounts as stated on bank statements.)

Second, take care of A/P (accounts payable).
In this order:
Enter bill - pay bill

Third, when reconciling to bank statement.
If you see other deposits and debit charges on bank statement, post the entries to the check register.

If you have problem reconciling; look at these 4 numbers to find where the error(s) are:
beginning balance, total deposit, total withdrawals, and ending balance.

Quickbooks / Bookkeeping Procedures

Your main data source is bank and credit card statements -- a high 80 to 90% of the data came from these 2 places. So, if you have captured all the data from these 2 places, you have captured most of data.

The workflow is always:

- Enter data

- Reconcile to monthly statement.
By reconciling, you verify that all data been entered and is correct.
If there are errors or omissions, they would be detected and entered/corrected in this step.

- Review financial reports.

The owner runs his business. He has the "reality check". If numbers don't look right, the owner should know it better than an outside contractor. Good financial is a team effort between the owner and the accountant/bookkeeper. 

Found leads from Better Business Bureau site

I googled "contractor association/ group/ exchange. One related website pointed me to Better Business Bureau. Bingo! I hit a jackpot and compiled 67 leads who are in zip code close to me.

Craigslist works. So are leads from Contractor Exchange Group

I recruited a client today, through Craigslist, who is willing to pay my asking rates. I learned from a speaker from S.B.A (Small Business Administration) to not overlook Craigslist, for its strengh in Regional markets. He knows of a mortgage broker who does big loans only all over the states, whose only marketing venue is Craigslist!

The past Monday, I compiled 47 leads from a Contractor Exchange Group website, and fired off 47 postcards on the same day. I got a call 3 days after from one of the lead saying that he got my postcard and needed my service. Talk about target-marketing!

Prospects and postcard campaign

I am focusing on recruiting contractor clients. Just compiled 47 prospects from a contractor trade/exchange website, and fired off 47 postcards.
Now, waiting for the prospects to ripened into clients. :)

(Nicole Roberts Creative did a great job on my postcard design. Rocket Postcards did the printing.)